Gurgaon investors complain of Noida firm duping them through ponzi scheme | gurgaon | Hindustan Times
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Gurgaon investors complain of Noida firm duping them through ponzi scheme

The Noida based firm has an office in Sector 2 and it offered Rs 7 to Rs 35 to investors for every click.

gurgaon Updated: Mar 26, 2017 22:34 IST
Abhishek Behl
ponzi scam

The investors were allegedly asked to invest in multiples of 8,000, 17,250, 34,500, 69,000, 4,02,500, 8,05,000.

Over a dozen people in the city alleged on Saturday that a Noida based company cheated them using an online ponzi scheme. They submitted a memorandum at the Gurgaon police commissioner’s office alleging that the company had promised them hefty profits for investment in their online products but failed to deliver.

The investors were allegedly asked to invest in multiples of 8,000, 17,250, 34,500, 69,000, 4,02,500, 8,05,000.

Narayan Rao of Sector 10 said he had invested almost Rs 35 lakh in the firm on December 22 but, the company closed operations after taking the money.

The Noida based firm has an office in Sector 2 and it offered Rs 7 to Rs 35 to investors for every click.

Another person alleged that he had invested Rs 30 lakh and also helped several others make investments.

The investors alleged that the company duped hundreds of people in the NCR and the amount could run into several hundred crores. They said every employee of the company disappeared after February 10 and the firm refused to return the money.

On March 10, the web portal of the company also stopped functioning.

Gurgaon police has asked investors to give a written complaint on Monday after which investigation will start.

Vivek Ranjan, in-charge of cyber cell in Noida, said the cell has not received any complaint against any new company running a clickbait business in Sector 2.

“Apart from Ablaze Info Solutions and Webwork Trade Links Pvt Ltd, we have not received any complaint related to companies running clickbait schemes in Noida,” he said.